2 Otis St · Jay, ME 04239

$110,000

3 bd · 1.5 ba · 651 sqft · Other public records · 194 Days on market

Built 1910 4,791 sqft lot $169/sqft · 24% above area Est $178k · 38% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.5/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +6.5/10.0
• DSCR +6.2/10.0
• 1% rule +4.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 2 Otis St Jay! This 3 bedroom, 1.5 bath home offers 1,302+/- sq. ft of living space on a manageable 0.11+/- acre lot. Large yard offers backyard enjoyment! Conveniently located just off Route 17, this property provides easy access to local amenities.

Key facts

• Backyard enjoyment
• Large yard
• 4,791 sq ft lot

Tags

• LARGE YARD
• BACKYARD ENJOYMENT
• EASY ACCESS TO LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $125 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (3.1% below list).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• RSU 73 (rural): math 75% / reading 81% proficiency, ranked #91 of 112 in ME (top 81%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 31 active listings in the ZIP; 164 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($761 loan paydown + $11k appreciation (10.0% local appreciation)).
• Franklin County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.66%
• Cash-on-cash: 4.88%
• DSCR: 1.22
• GRM: 8.6

CMA / ARV

• ARV (median comp): $178,063
• List price: $110,000
• Delta: -38.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.8%
• Equity multiple: 3.20×
• Total profit: $67,883
• Equity at exit: $99,097

10-year hold

• IRR: 24.3%
• Equity multiple: 7.29×
• Total profit: $193,605
• Equity at exit: $213,706

Cash invested: $30,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 41 Moderately Tenant-Leaning
• State Maine: 41 Moderately Tenant-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

Portland has rent control referendum (2020); strong habitability; security deposit caps.

Methodology + full state rankings →

ZIP-level market 04239

• Home prices YoY: 5.3%
• Active inventory: 31
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,066 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$94 /mo · $1,132/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $125

Break-even live

Break-even rent $908

Max offer price $110,000

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $110,000 Active 194 DOM
2. 2026-06-17
   days on market $110,000 Active 193 DOM
3. 2026-06-16
   days on market $110,000 Active 192 DOM
4. 2026-06-15
   days on market $110,000 Active 191 DOM
5. 2026-06-13
   days on market $110,000 Active 189 DOM
6. 2026-06-12
   days on market $110,000 Active 188 DOM
7. 2026-06-09
   days on market $110,000 Active 185 DOM
8. 2026-06-08
   days on market $110,000 Active 184 DOM
9. 2026-06-07
   days on market $110,000 Active 183 DOM
10. 2026-06-07
    days on market $110,000 Active 182 DOM
11. 2026-06-04
    days on market $110,000 Active 179 DOM
12. 2026-06-02
    days on market $110,000 Active 178 DOM
13. 2026-06-01
    days on market $110,000 Active 177 DOM
14. 2026-05-31
    pricedays on market $110,000 Active 176 DOM
15. 2026-05-31
    days on market $115,000 Active 175 DOM
16. 2026-05-07
    price $115,000 262-char remark

    Show marketing remark (262 chars)

    Welcome to 2 Otis St Jay! This 3 bedroom, 1.5 bath home offers 1,302+/- sq. ft of living space on a manageable 0.11+/- acre lot. Large yard offers backyard enjoyment! Conveniently located just off Route 17, this property provides easy access to local amenities.

17. 2026-04-21
    price $120,000 262-char remark

    Show marketing remark (262 chars)

    Welcome to 2 Otis St Jay! This 3 bedroom, 1.5 bath home offers 1,302+/- sq. ft of living space on a manageable 0.11+/- acre lot. Large yard offers backyard enjoyment! Conveniently located just off Route 17, this property provides easy access to local amenities.

18. 2026-03-26
    price $125,000 262-char remark

    Show marketing remark (262 chars)

    Welcome to 2 Otis St Jay! This 3 bedroom, 1.5 bath home offers 1,302+/- sq. ft of living space on a manageable 0.11+/- acre lot. Large yard offers backyard enjoyment! Conveniently located just off Route 17, this property provides easy access to local amenities.

19. 2026-02-10
    price $129,000 262-char remark

    Show marketing remark (262 chars)

    Welcome to 2 Otis St Jay! This 3 bedroom, 1.5 bath home offers 1,302+/- sq. ft of living space on a manageable 0.11+/- acre lot. Large yard offers backyard enjoyment! Conveniently located just off Route 17, this property provides easy access to local amenities.

20. 2026-01-18
    price $135,000 262-char remark

    Show marketing remark (262 chars)

    Welcome to 2 Otis St Jay! This 3 bedroom, 1.5 bath home offers 1,302+/- sq. ft of living space on a manageable 0.11+/- acre lot. Large yard offers backyard enjoyment! Conveniently located just off Route 17, this property provides easy access to local amenities.

21. 2025-12-26
    price $139,000 262-char remark

    Show marketing remark (262 chars)

    Welcome to 2 Otis St Jay! This 3 bedroom, 1.5 bath home offers 1,302+/- sq. ft of living space on a manageable 0.11+/- acre lot. Large yard offers backyard enjoyment! Conveniently located just off Route 17, this property provides easy access to local amenities.

22. 2025-12-06
    listed $150,000 Active 262-char remark

    Show marketing remark (262 chars)

    Welcome to 2 Otis St Jay! This 3 bedroom, 1.5 bath home offers 1,302+/- sq. ft of living space on a manageable 0.11+/- acre lot. Large yard offers backyard enjoyment! Conveniently located just off Route 17, this property provides easy access to local amenities.

23. 2015-05-01
    price $17,700

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast ME · Partial reset (capped growth)

• Current annual tax: $1,132 · $94/mo
• Projected year-2 tax: $1,314 · $110/mo
• Expected delta: +$182/yr (+$15/mo · 16.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $12,796
• − Mortgage interest: −$6,162
• − Property taxes: −$1,132
• − Insurance: −$550
• − Repairs & maintenance: −$1,024
• − Management: −$1,024
• − Depreciation: −$3,200
• Taxable loss: −$295
• Est. tax savings @ 24.0%: +$71
• After-tax cash flow: $1,575/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: RSU 73
• NCES district ID: 2314805
• Math proficiency: 75% ▲ 50.00%
• Reading proficiency: 81% ▲ 38.00%
• Median HH income: $44,547
• Composite: 65.46/100
• National rank: #477
• State rank: #91 of 112 in ME

Livability — Jay

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Chisholm, ME
• Population (ZIP): 4,644

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 28,948 people
• By 2030: 27,889 · -3.7%
• By 2040: 25,275 · -12.7%
• By 2050: 22,770 · -21.3%
• By 2075: 18,980 · -34.4%
• By 2100: 16,816 · -41.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Asian 2%
• Common ancestry: Lithuanian 10% Italian 4% German 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 2% Tagalog/Filipino 1%

Political lean MEDSL · Franklin

• 2024 margin: Lean R (+8.2) · D 44.8% · R 53.0% · Other 2.2%
• 2008→2024 swing: -28.5pp toward R · 2008: 20.3pp · 2024: -8.2pp
• All cycles: 2024: R+8.2 2020: R+3.9 2016: R+5.5 2012: D+18.5 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.17%
• Current HPI: 279.4231
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+549.7% since first listed

8 events — show timeline

• 2026-05-07 Price Changed $115,000 MREIS
• 2026-04-21 Price Changed $120,000 MREIS
• 2026-03-26 Price Changed $125,000 MREIS
• 2026-02-10 Price Changed $129,000 MREIS
• 2026-01-18 Price Changed $135,000 MREIS
• 2025-12-26 Price Changed $139,000 MREIS
• 2025-12-06 Listed $150,000 MREIS
• 2015-05-01 Price Changed $17,700 MREIS

Property tax history

+3.6%/yr

Latest (2024): $1,132 · -4.4% YoY. Source: county tax records.